Dangote reduces Cement price from ₦1,700 to ₦1000

Dangote Cement Plc has announced a 41 per cent lowering of the values of cement, with different grades of the fundamental commodity now selling for between N1,000 and N1,150, exclusive of Value Added Tax.

In the brand new price regime announced on Sunday by the Group Managing Director, Dangote Cement, Mr. Devakumar Edwin, a 50kg bag of the 32.5 cement grade will now sell for N1,000, while the larger 42.5 grade is to offer for N1,150 per bag rather than the current N1,700 that both grades were going for.

Edwin said in a statement that the move was consistent with their commitment to the nation, especially the necessity for the development of infrastructure and boost ongoing efforts to cut back the near 20 million housing deficit in Africa’s largest economy.

“We recognise the need for a dramatic increase in the response to the huge infrastructure and housing deficit in the country, and one of the ways of addressing the issue is bringing the price of building materials down to much more affordable levels, especially cement, which is within our own control as part of our contribution to the transformation agenda of the President Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals,” he was quoted as saying.